Progressive Care, Inc., through its subsidiary, PharmCo, LLC, engages in the distribution of pharmaceuticals. PharmCo also provides related pharmacy consulting, and durable medical equipment and accessories to retail and long term care customers, such as skilled nursing facilities, assisted living facilities, retirement centers and communities, doctors' offices, and clinics. In addition, it offers purchasing, repackaging, and dispensing of prescription and non-prescription pharmaceutical products for long term care customers. PharmCo utilizes a unit-of-dose packaging system as opposed to traditional vials used for its retail customers. Further, it provides computerized maintenance of patient prescription histories, third party billing, and consultant pharmacist services. PharmCo's consulting services primarily consist of evaluation of monthly patient drug therapy and monitoring the institution's drug distribution system. It also offers durable medical equipment in Florida. In addition, PharmCo operates as a retail pharmacy and offers traditional pharmacy services to its retail customers, as well as free home delivery twice a day. Further, it offers brand name products customary in retail drug stores, nutritional supplements, and community based products. The company was formerly known as PharmCo Corp. and changed its name in October 2010. Progressive Care, Inc. is headquartered in North Miami Beach, Florida.

We greatly anticipate that our continued marketing presence, strong community relationships and growth endeavors will produce significant results for the company and its shareholders in 2016. On behalf of the entire Progressive Care family, thank you for sharing in our success and being a partner in our future.

PRODUCTS AND SERVICES

PharmCo is a provider of prescription pharmaceuticals, specializing in anti-retroviral patient management and durable medical equipment. The company also provides long-term care solutions to skilled nursing facilities (SNFs), assisted living facilities (ALFs), retirement centers and communities, doctors’ offices and clinics.

ANTI-RETROVIRAL PATIENT MANAGEMENT

Advances in HIV/AIDS treatment has greatly increased the ability of those suffering from the disease to manage their symptoms and live longer, healthier lives. Effective management of the disease begins with taking the right medications with the right dose at the right times. For those in the HIV/AIDS community, adhering to the very strict dietary and medicinal requirements can be extremely difficult. Normal activities are often interrupted and sometimes prevented by the struggle to be in compliance.

PharmCo wants to ease this burden on those impacted by this life altering disease. We aim to make compliance with prescription regiments as easy as possible. By understanding the sensitive nature of HIV/AIDS and the needs of those afflicted, PharmCo provides the following services to patients with these special needs:

1. Confidential packaging 2. Packaging tailored to suit a patient's individual life style 3. Free delivery from a variety of sources including PharmCo's proprietary delivery fleet 4. A staff that is well trained in acute illnesses, who understands the patient's needs and concerns 5. 24 hour emergency support 6. Timely availability of specialty medications due to our extensive inventory 7. Access to newly developed medications

DURABLE MEDICAL EQUIPMENT

PharmCo is a fully accredited DME supplier. In November 2010, as part of Medicare's competitive bidding, PharmCo was awarded a three year contract to supply hospital beds, oxygen supplies, power wheelchairs, scooters, walkers, and other related equipment and accessories in South Florida. PharmCo carries an extensive inventory of equipment and accessories with most special requests being honored with same day or next day delivery. The company offers both sales and rentals with size, color, style, and brand options available on the majority of products. Most importantly, the staff is knowledgeable, helpful and dedicated to providing superior customer service. PharmCo offers home service and maintenance, defective product replacements, and free home installation and instruction.

LONG-TERM CARE

PharmCo's institutional clients have come to depend on the company's proven accuracy, dispensing methods, and immediate response time. With PharmCo compliance and efficiency assistance, long term care institutions are able to provide the highest level of continued care to their patients. PharmCo provides purchasing, repackaging and dispensing of both prescription and non-prescription pharmaceutical products. PharmCo utilizes a unit-of-dose packaging system as opposed to traditional vials used for its retail customers. This method of distribution improves control and patient compliance with recommended drug therapy by increasing the timeliness and accuracy of medication dispensing. PharmCo also provides computerized maintenance of patient prescription histories, third party billing and consultant pharmacist services. Its consulting services consist primarily of evaluation of monthly patient drug therapy and monitoring the institution’s drug distribution system.

Long term care institutions can count on PharmCo for the following services:

PharmCo believes its competitive advantage is to provide superior service to our customers. As a pharmacy that caters to those patients with specialty and long term health care needs, we strive to go above and beyond to give our customers the attention and care they deserve.

Our staff is specially trained in the care and management of patients with acute illnesses and HIV/AIDS. We ensure packaging that meets our customers' privacy needs and options to suit their individual life styles. We carry an extensive inventory of medications including some of the latest treatments for acute illnesses direct from manufacturers.

PharmCo takes a personal approach to customer service by providing personal attention to the doctors, clinics, LTC facilities and others who use our products and services to provide quality care for their patients. For example, on a monthly basis a PharmCo representative will consult with a facility or clinic to review drug interactions, eliminate redundancies in therapies, provide medication dispensing training, and provide updates on new regulations. PharmCo’s institutional clients have come to rely on our proven accuracy, dispensing methods and immediate response time to allow continuation of care for their patients.

For all of our customers, we facilitate a strong line of communication between their doctors, insurance providers, and care givers. Members of our diverse, multilingual staff are on hand to assist with prior authorizations and refills.Our staff often contacts insurance providers on behalf of a customer to determine coverage and help them navigate other financial assistance options. We offer free delivery to all of our customers with no minimum purchase.

This is a 40x improvement over today's ~$0.025 share price. Do I think it will happen this year? Though some believe it's possible, I wouldn't bet the farm on it. Do I think it's very possible within the next 3-5 years? Absolutely! Here's how and why...

First, Progressive Care, Inc. (RXMD) is clearly undervalued, but the pps is correcting and will be reaching upward for 0.10+ before you know it. Organic growth and a handful of acquisitions - simply executing the strategic plan - will do the rest. I see RXMD as a serious buyout target in 2-3 years!

Large national pharmacy companies are fending off competition from mail-order prescription discounters, online pharmacies, wholesale retailers such as Costco and health clinics, among others:

Oct 28, 2015 - Walgreens said on Tuesday that it will buy rival Rite Aid in a $17.2 billion deal that would whittle the nation's one-time mom-and-pop drug-store industry into two massive chains. Walgreens Boots Alliance, which operates the namesake drug store chain, said it is paying $9 per share in cash in a valuation that includes the assumption of debt. That reflects a 48% premium above Rite Aid's value at the close of trading Monday.

From a 2010 article: Omnicare has a rich history of growth through acquisitions, which has made it a dominant player in the industry. The company boasts a reasonably sound balance sheet and is well positioned with healthy cash flow, which it can use for further acquisitions, debt repayments and share repurchases. Omnicare is pursuing an aggressive acquisition strategy in fiscal 2010. The company agreed to buy institutional pharmacy businesses in July 2010 and is also in advanced negotiations for other acquisitions.

While the goliaths have been hammering away at acquisitions and consolidation in the broader pharmacy retail sales and services markets to maximize commodity-type margins, Progressive Care, Inc. (RXMD) has been quietly whittling away at a health services business model that focuses on a small but substantial piece of the very large pie. This piece of pie, however, concentrates on high-margin revenue derived from medications and services for an underserved segment of the market. Progressive Care specializes in the care and management of patients with special needs, long-term care needs, and including medications for infectious diseases.

As stated in the Open Letter to Shareholders, Progressive Care will continue to strengthen the successful PharmCo model by "adding business elements that cater to specific under-served markets and demographics." In doing so, Progressive Care raises the bar, creating a steeper barrier to entry for regional competition in existing markets. For example, Progressive Care will add a "closed-door pharmacy facility" to the existing PharmCo operation this year. It seems likely that this will be a nearby (near the existing PharmCo site) satellite pharmacy operation embedded in a long-term care or other health services facility in one of the underserved markets/demographics of focus.

As also stated in the Open Letter to Shareholders, Progressive Care "will also look for opportunities to expand the pharmacy through establishing new locations or through mergers/acquisitions with similarly positioned independent pharmacies," and "will seek licensures in additional states in order to begin positioning PharmCo as a national brand."

Progressive Care, Inc. (RXMD) has it in the game plan to grow revenue organically and to expand into other markets nationally through acquisitions.

The goliaths have it in their game plan to continue increasing shareholder value - indefinitely. As the pending market consolidation in the major pharmacy store and services sector is nearing completion, these companies will look to the next opportunities, especially those that offer higher gross margins. They will not be able to do this organically through existing infrastructure, as the services are much more specialized than what a discount pharmacy operation can profitably support. That is, it's simply not a good product mix. The only way they will be able to continue improving shareholder value at their historic rates is through acquisitions.

If you're trading on the OTCBB and you're new to RXMD, it would be a very smart move IMO to diversify your "investments" and take 10-20% of your funds and get a starting position in this stock for the long-haul growth toward this 40-50-60x gain opportunity over 3-5-7 years. Add when you can on any dips and stay long, and use other funds for flipping other penny stocks if that's something that appeals to you. Wanna retire young? This is a road map that's easy to read

The following photo is a street view screen shot from Google on December 15, 2015(click the image for full view)

The following images are recent photos after makeover of storefront, processing and office areas in Autumn 2015

The following pics contributed by RXMD shareholder on November 13, 2015(click the images for complete panoramic views)

Images Of New Work Stations (Aug 2016)

Caught some images after popping by this month of the new work stations they just installed. Much larger work area to accomodate more people!

Developing News & Coming Events

Armen (control shareholder & company IR): "We just made this purchase, and we are excited for the added efficiencies it brings. It is not fully assembled, and will take 6-8 weeks to assemble (done by manufacturer) and it will be placed in the warehouse we are currently expanding into..connected to the pharmacy...the permits are out, and once approved we will begin the work immediately...It is $150K to purchase and assemble in total." (from INSTATRADER discussion on 1/28/16, Post #29324)

Armen (control shareholder & company IR): "This company has no conversions or debt to speak of. If we were to dilute in ANY way we would PR it first. Not only are we NOT diluting, but we expect the O/S to go DOWN when TARPON returns the 12M shares they still hold that were UNSOLD" (from INSTATRADER discussion on 1/28/16, Post #29324)

Annual report due end of March, could post filing any time before then on OTC Markets.

Surprise news expectations... many are hoping to hear sooner than later about acquisition/merger developments for expansion of core business into new market(s) - for a surprise upward price effect beyond the current price correction in progress

Weekly Community Events (Aug 2016)

Had a chance to pop by and see the Health Fair that PharmCo was at. Looked like several hundred people and the team was handing out A TON of PharmCo swag bags. Spoke to the team and they say that this will be a regular thing moving forward as far as more frequent community engagement goes. I'll keep everyone posted when I can make it out to these.

Current News Summary & Status

Jan 28, 2016: "After evaluating several manufacturers of pharmacy robotic systems, PharmCo, LLC has signed an agreement to purchase ScriptPro's CRS 225 robotic prescription dispensing system, which is one of the newest additions to ScriptPro's line of compact robotic machines. The CRS 225 can hold up to 225 individual medications and fill over 1000 prescriptions per day with 99.7% counting accuracy. Under the terms of the agreement, the machine will be installed in PharmCo's facility upon completion of the site expansion build-out, which is currently in the permitting phase of completion.

"We are taking a giant leap forward in modernizing our operation by purchasing ScriptPro's robotic system. This technology will essentially eliminate human errors in the prescription filling process, and drastically increase workflow efficiency. The expansion as well as the installation of the CRS 225 will greatly increase the production capacity of the pharmacy, which will quickly produce financial benefits for the Company," stated S. Parikh Mars, CEO."

Jan 14, 2016: "The pharmacy filled nearly 180,000 prescriptions in 2015, which is a 28% increase over last year. During the fourth quarter, PharmCo filled over 48,000 prescriptions resulting in record revenues for the quarter at $3.9 million. December marked the strongest month for the company since inception with over $1.4 million in net pharmacy revenues.

In 2015, PharmCo brought in over $13.5 million in net pharmacy revenues. This is almost a 24% increase over 2014. Revenue growth accelerated during the final month and quarter with over 61% and 35% increases in revenues, respectively, when compared to the same time periods last year. The compounded medication division is the primary driver of revenue growth in addition to major additions to company's marketing team and expanded marketing campaigns with large clinics and physicians networks.

"While I am supremely happy with the progress we have made over the past year, I know that this is merely a fraction of what the company is capable of in the future. I am excited about bringing the company into 2016 with an ambitious resolve to accomplish major goals and realize our utmost potential. Our shareholders should take this time to share in the company's joy, but ready themselves for major growth and expansion in the coming year," stated Shital Parikh Mars, CEO."

Jan 8, 2016: "Upon review of the filings and approval from OTC Markets, Progressive Care has moved to the OTC Pink Current Information tier of listed companies which is the highest trading tier on the OTC Pink marketplace. Over the past year, the Company has been diligent with filing all disclosure documents and financial statements with OTC Markets in a timely manner. As a result the company will now trade without a yield sign for the first time since 2013. Achieving the highest tier in the OTC Pink marketplace will bring significant benefits to the Company and its shareholders by assuring the public that comprehensive information on the Company's operations and financials is readily available.

"Over the past month, our management team has worked steadily to ensure that all disclosure and document requirements of OTC Markets have been met. Becoming an OTC Pink Current company is a positive step forward for Progressive Care. By providing greater transparency and public confidence in the timeliness and accuracy of press releases, financial statements and disclosures, we believe that we will strengthen our shareholder base and build shareholder value," stated Shital Parikh Mars, CEO."

Jan 7, 2016: Open Letter to Shareholders... "The New Year is often a time of earnest reflection on the developments of last year and ambitious goal-setting for the year ahead. I am pleased to say that 2015 was a year of transformation and tremendous progress for the Company. In the past year, we have cemented ourselves as a health services organization that goes beyond being a provider of prescription pharmaceuticals and our numerous achievements have positioned us for further growth and success in 2016." (Read More)

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